Match Prices Its IPO AT $12 Per Share

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Match has priced its IPO at $12 per share, raising $400 million . The company will begin trading on the Nasdaq tomorrow, under the ticker symbol ‘MTCH.’

The $12 per share is at the bottom of the anticipated $12 to $14 proposed price range and gives the company a market cap of roughly $2.9 billion. Square, which is also going public tomorrow, just priced its IPO at $9, below the $11 to $13 price range.

Match owns a group of dating companies, including OkCupid and the infamous Tinder. That particular subsidiary came under fire today after its leader gave a bizarre interview that may have broken SEC-mandated “quiet period” rules.

The company has impressive revenues, and is profitable. In its S-1 filing with the SEC, Match Group reported $1.02 billion in revenue, measured over its preceding 12 months. In the same period, the company had $177.5 million in GAAP profit. In the era of growth over profits, Match Group is notable.

From TechCrunch’s prior reporting, here’s how popular the apps that comprise Match Group are:

The company says it has 59 million monthly active users, and about 4.7 million paid members, using its dating products as of the end of the third quarter this year. Match Group’s products are in 38 languages across more than 190 countries, the company said in its S-1 filing. The company had 1,600 full-time employees and 3,300 part-time employees around the world as of the end of the second quarter this year.

Tinder, one of Match Group’s core products has become a cultural sensation. As with any consumer boom, however, the company will have to grapple with an increasingly fractured, and bored consumer base with no shortage of competing offerings.

2015 has been a rough year for tech stocks and IPOs. Etsy and Box were amongst the small group of tech companies to go public this year and both have struggled.

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Crunchbase

OverviewThe Match Group is the world's leading provider of dating products, redefining the way millions of people meet, date and start relationships every day. We offer our products under nearly 50 brands, translated into nearly 40 languages and available in more than 200 countries across five continents. Our principal brands include Match, Tinder, Meetic, OkCupid and OurTime. We generate revenues through …

OverviewTinder is how people meet. It’s the world’s most popular app for connecting with new and interesting people around you. It’s free, fun and effective. That’s why every single day there are more than 26 million matches made on Tinder.
Every time you open Tinder, you’ll immediately see new, interesting people nearby, along with friends or interests you have in common. Swipe right to like …

OverviewIAC is a leading media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder.
Ranked by Fortune magazine's annual standing of the world's most admired companies in the Internet Services & …